Money Laundering Bulletin
Citibank fined US$70m over failure to comply with 2012 AML consent order
By Keith Nuthall
Citibank
is to pay a US$70 million penalty to the US Office of the Comptroller of the
Currency (OCC), in a consent order where the regulator alleges the banking
group failed to fully comply with a 2012 order to reform its anti-money
laundering (AML) systems.